Merlin Securities has formed a new equity sales coverage and content division, Merlin Institutional Group, which will focus on delivering traditional institutional equity sales coverage and content to medium-sized and large hedge funds.

Alpstar, a European credit fund specialist, has formed partnership with Ahorro Corporacion Financiera, the financial services group of Las Cajas, the Spanish Savings Banks.

The partnership is looking to parlay the local access of ACF with the distressed and recovery acumen of Alpstar to source and invest in stressed Spanish corporate debt via an advisory and restructuring strategy.

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